Luxury news and archive

Switzerland slaps sanctions on luxury exports to Russia

Switzerland on Friday adopted the EU's sanctions on exporting luxury goods to Russia imposed over the Kremlin's war in Ukraine, acknowledging that some Swiss companies could be badly hit. The European Union imposed a fourth wave of sanctions on Tuesday, which Switzerland said it would match. Switzerland is not in the EU and has a long-standing...

21 Mar 2022

Business

Luxury sector unphased by Corona despite soaring inflation

The pandemic and soaring inflation have done nothing to take the shine off luxury brands, from Louis Vuitton to Gucci and Cartier, as the sector hiked prices to notch up stellar profits. The world economy began to recover from the pandemic last year but the rebound has been accompanied by rising inflation, with prices for raw materials and...

21 Feb 2022

Fashion Featured

One luxury brand dominates globally while a handful prove national favorites

It’s a small world and a new survey shows the luxury market is equally small. Louis Vuitton proves to be the most popular brand globally while Gucci fulfills the role of bridesmaid by regularly coming in second. The survey by raisin.uk calculates popularity by how many monthly searches a brand gets. But against a background of unprecedented...

8 Feb 2022

Retail

Burberry opens Imagined Landscapes pop-up in Selfridges

British luxury house Burberry has brought its Imagined Landscapes concept to a pop-up in Selfridges London. The idea centres around the house’s outerwear selection, which is currently being celebrated through a series of global pop-ups showing the extensive range in designs. Exclusive styles will be available only at Selfridges, including an...

10 Dec 2021

Business

Harvey Nichols enters the world of NFTs

British luxury department store Harvey Nichols has become another player in the non-fungible token (NFT) sphere, with the launch of a 20,000 avatar collection and related consumer competition. The NFT avatars were made in collaboration with Rtfkt Studios’ Clone X Project, with some additions also designed by Japanese contemporary artist, Takashi...

2 Dec 2021

Video

Video: She’s Mercedes discusses new luxury and fashion

In this video, global initiative She’s Mercedes has presented a conversation between the head of marketing and communications at Mercedes-Benz Germany, Katja Ohly-Nauber, co-owner and creative strategist of Studio MM04, Magdalena Schaffrin, founder and designer of Lala Berlin, Leyla Piedayesh, the CEO of Haus Glanz, Sharon Berkal, and the...

9 Sept 2021

CultureFeatured

Walpole launches love letters from Britain series

A new documentary series called Love Letters from Britain is set to launch on July 5th. First announced in December last year, the series is produced by BBC StoryWorks Commercial Productions for Walpole, the association for British luxury brands, and aims to inspire a global audience by showcasing innovative British creativity changing the face...

1 July 2021

Business

The stock market's luxury indexes are soaring post pandemic

Luxury investors are showing confidence in the stock market again, with mergers and acquisitions back on fashion’s agenda. Covid-19 has without a doubt impacted the world’s stock exchanges, sending most of them in a frenzy in the early days, but after several months of difficulties, luxury indexes are setting new historical records. The month of...

22 June 2021

BusinessFeatured

Chanel revenue fell 18 percent during 'highly disrupted' pandemic

Chanel on Tuesday said its revenue fell 18 percent to 10.1 billion dollars in 2020. The Paris-based luxury house said its business was “highly disrupted” due to store closures and suspension of international travel. Prior to global lockdowns, Chanel had a robust duty-free business, which instantly froze as tourism was halted. While the pandemic...

15 June 2021

Fashion Featured

A digital Gucci bag sold for more than its ‘real’ value

A digital Gucci bag on gaming platform Roblox has sold for more than the ‘real’ value of its physical version. The Gucci Dionysus, a logo enveloped bag with a distinctive tiger closure, was sold for 4,115 dollars compared to its store price of 3,400 dollars. Roblox’s game creation system allows users to program games and play games created by...

26 May 2021

People

LVMH CEO Bernard Arnault was briefly the wealthiest person in the world

Bernard Arnault was briefly the wealthiest person in the world on Monday. In the hours before the New York Stock Exchange opened the president and CEO of French luxury giant LVMH surpassed Amazon founder Jeff Bezos in Forbes’ latest ranking. His fortune was valued at 186.3 billion dollars (about 152 billion euros), 300 million above Bezos (186...

25 May 2021

Business

Coty luxury brands president Simona Cattaneo to step down

Global beauty company Coty has announced that Simona Cattaneo will be stepping down as luxury brands president. Cattaneo joined Coty five years ago as a chief marketing officer and said in a statement that it’s been a fantastic experience working with so many inspirational people as she progressed within the company. “Coty is fortunate to have...

21 May 2021